July 2005 Financial Status / Net Worth Update

July 10, 2005 By Jonathan Ping 6 Comments
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For the new readers, let me say that all of my credit card debt is in the form of a 0% balance transfer. Please see all three of my posts (1,2,3) on this and the (updated) best 0% offers that I have found. Short-term interest rates keep going up (I’m earning 3.75% interest on my savings now), and amazingly these offers are still around.

This is our last month of dual incomes, but it was a pretty good month. Major purchases-wise, I had to pay tuition for my summer classes this month. Overall, our net worth increased $3,256 from last month to $81,530. Our non-retirement funds now total $44,052. We won’t be able to keep up our current pace towards our mid-term goal of $100,000 for now, but I still think it’s reachable. We’ve already maxed out both of our Roth IRAs for 2005, and I’ve already put more than $4k into my 401k this year, so I think we’re good for retirement funding for this year. I will definitely be putting more emphasis on controlling monthly costs since I’ll have more time.

Filed Under: Goals
Last updated: October 5, 2011
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Comments

  1. mack moris says
    July 10, 2005 at 10:54 pm

    where are you earning 3.75 on savings?

    Reply
  2. jp says
    July 11, 2005 at 9:41 am

    Ah, I should post about this – the Presidential Bank Premier Savings Account now earns 3.75% interest!! There are some restrictions, however. See my Presidential Bank Checking Account Review for more on Prez Bank overall.

    Reply
  3. wannabe ceo says
    July 12, 2005 at 12:00 pm

    3.75!

    Reply
  4. Ryan Williams says
    July 15, 2005 at 12:14 pm

    Hi Jonathan,

    I wanted to let you and your readers know about our new site, http://www.networthIQ.com. It was inspired by these types of posts by you and your fellow pf bloggers. Check it out and let us know what you think!

    Also, check out our blog (http://networthiq.blogspot.com) for a little story about how you were instrumental in the development of the site.

    Reply
  5. Noumenon says
    July 18, 2005 at 7:18 am

    I suppose if I read your blog further I will discover why you have such a huge cash allocation…

    Reply
  6. jp says
    July 18, 2005 at 10:25 am

    Yep. Please see the mention of my mid-term goal above.

    Reply

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